NEW YORK, August 18, 2011 – Bank stability is an ever-more pressing concern for the world’s corporations and investors. It is within this context that Global Finance announces it’s 20th Annual Ranking of the World’s 50 Safest Banks.
The sovereign debt crisis is still raging in Europe and renewed fears of contagion from southern European countries is affecting banking and market outlooks throughout Europe.Global political instability is also in the spotlight—from the upheavals in the Middle East and Africa to the US debt downgrade by Standard & Poor’s, companies are watching closely to see how these events are affecting their counterparties.
With more than 40 of the top 50 banks from last year once again making the list, the Global Finance ranking shows that most of the top echelon of banks are truly worthy of the moniker World’s Safest Bank. Winners were selected through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s and Fitch—and total assets of the 500 largest banks worldwide.
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_Global Finance’s annual ranking of World’s 50 Safest Banks is a recognized and trusted standard of creditworthiness for the entire financial world. “Counterparty creditworthiness is a critical issue for companies and investors worldwide,” says Global Finance publisher Joseph D. Giarraputo. “More than ever, companies around the world are reevaluating the long-term credit strength of their banks, and partnering with only those banks that have proven strength and stability.”
This exclusive survey will be published in the October issue of Global Finance. The banks ranked 1-10 will be presented awards at a special ceremony to be held during the Annual Meetings of the IMF and World Bank in Washington in September.
For the list of 50 Banks, goto http://www.gfmag.com/tools/best-banks/11341-worlds-50-safest-banks-2011.html#ixzz1jhM5SXLy